Ripple CEO Backs U.S. Crypto Reserve, Criticizes Biden-Era Policies

US President Donald Trump recently unveiled plans for a Strategic Cryptocurrency Reserve that will include Bitcoin (BTC), Etherium (ETH), Solana (SOL), XRP and Cardano (ADA).

The announcement, made via social media, led to an immediate surge in the digital asset market, with several major cryptocurrencies seeing significant price gains.

Following the news, Ripple CEO Brad Garlinghouse expressed support for the initiative, emphasizing the need for industry-wide collaboration. He reiterated his long-held view that working together would help the crypto sector achieve its broader objectives and welcomed Trump’s vision for a sovereign pool of digital assets to represent the industry.

Garlinghouse also criticized the regulatory stance of the previous administration, particularly President Biden’s Cryptocurrency Section. He argued that an approach favoring only one blockchain was detrimental to progress and praised Trump for recognizing the reality of a multi-chain world.

He further stated that the industry was finally moving beyond what he described as flawed regulatory thinking under Bill Hinman and the SEC during the Biden administration.

His remarks also appeared to be directed at those who had pushed for a Bitcoin-only reserve. Additionally, Garlinghouse reaffirmed his commitment to advocating for the crypto industry in Washington and indicated that he would continue these efforts during his visit to the capital over the weekend.

A high-profile cryptocurrency summit will take place at the White House on Friday, with President Trump in attendance. Industry leaders are expected to discuss the future of cryptocurrency regulation and adoption in the United States.